Trump Media Stock Surges 24 Percent in First Week of Trading

Published on March 30, 2024

The stock performance of Trump Media & Technology Group (TMTG) blew past expectations as shares surged by more than 24 percent in its first week of trading after going public. TMTG, the parent company of Truth Social, started trading under the ticker symbol DJT on NASDAQ starting Tuesday after earlier merging with Digital World Acquisition Corp. (DWAC). Shares of DWAC traded at $49.95 on Monday’s close. By the end of the week on Thursday, TMTG was trading at $61.96, up by over 24 percent. The stock market remained closed on Friday due to Easter. President Trump holds 78.75 million shares in the company. At $61.96 per share, the former president’s stake in TMTG is now worth $4.87 billion, while TMTG’s market capitalization is at $8.39 billion. According to the Bloomberg Billionaires Index, President Trump’s net worth was at $7.48 billion as of March 30. He ranked at the 350th spot in the list of the world’s 500 richest people....

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